As policymakers in Washington, DC, face the expiration of the Treasury Department’s Home Affordable Modification Program at year-end, the CFPB last week released a collection of what it characterized as “guiding principles” on the future of foreclosure prevention. “We aim to help consumers avoid foreclosures, which upset their personal and financial lives,” said CFPB Director Richard Cordray. “The modification program was put in place to provide alternatives to foreclosure. Our principles will serve as helpful guardrails for servicers, investors and regulators to consider as we continue to protect consumers who are struggling to pay their mortgages.” In summary, the principles emphasize, among other things, accessibility: “Consumers should easily be able to obtain and use information about loss mitigation options, and ...